The Department of Economics hosted a talk titled “Class and Inequality in China and India” by Prof. Vamsi Vakulabharanam, Associate Professor of Economics at the University of Massachusetts Amherst on June 17th. Prof. Vakulabharanam, a former faculty member at the University of Hyderabad and City University of New York, has been associated with research institutions such as the Institute for New Economic Thinking (INET) and the India China Institute.  He is a renowned scholar in the field of political economy, inequality and development studies with a focus on India, global capitalism and class-caste dynamics.

In his talk, Prof. Vakulabharanam presented key ideas from his recent book Class and Inequality in India (1950–2010), offering a comparative political economy perspective on India and China. His lecture offered critical comparative insights into the evolution of class structures and inequalities in China and India, two of the world’s largest emerging economies.

Drawing on empirical evidence and theoretical perspectives, the speaker examined the socio- economic trajectories of both countries and highlighted the implications of rising disparities for long- term development and social stability. He traced two distinct phases in the post-independence period:1950–1980, marked by low economic growth but a decline in inequality (forming the lower part of a U-shape), and 1980–2010, characterised by rapid growth under neoliberal reforms and policies but a simultaneous rise in inequality.

The lecture highlighted three main contributions of the book:

1. A class-based analysis of inequality, especially novel in the context of China.
2. An exploration of how India and China have transformed the world economy post-1950, and how global economic dynamics have, in turn, reshaped these countries.
3. A theoretical framework for understanding within-country inequality.

Prof. Vakulabharanam also engaged with frameworks such as varieties of capitalism, French regulation theory, and comparative urban inequality (e.g., urban Gini coefficient analysis in Beijing and Delhi), offering a nuanced critique on ideas from thinkers like Thomas Piketty and Simon Kuznets and of global inequality discourse.

Concluding his talk, Prof. Vakulabharanam emphasised, “If China and India genuinely want to add something novel to the world order, they have to break free from the European model and find their own way of addressing inequality, climate change, and technological innovation.”

The session witnessed active participation from faculty members and research scholars from the Easwari School. Followed by a lively Q&A session, engaging participants in discussions around development policy, economic reforms, and the political economy of inequality. This academic event marked a valuable opportunity for the university community to interact with an international expert and gain deeper understanding of comparative development challenges in Asia.

The Department of Economics at Easwari School of Liberal Arts successfully organised a two-day workshop titled “Applied Econometrics: Leveraging with Software and Databases” on March 7 – 8, 2025. The workshop witnessed the participation of approximately 40 attendees, comprising academicians, research scholars, and students from various institutions, including SRM IST, VIT-AP and Amrita University. The significant turnout reflected the keen interest in applied econometrics and the practical implementation of statistical software (R and STATA) for economic analysis.

The primary objective of the workshop was to provide a comprehensive understanding of econometric principles while emphasising hands-on training with statistical software such as STATA and R. Participants received practical exposure to key econometric techniques, including time series modelling, cross-sectional data analysis, and panel data estimation, thereby enhancing their empirical research capabilities.

The workshop featured four insightful sessions conducted by distinguished experts in the field of econometrics:

• Dr Anandarao Suvvari (IIT Goa) – Delivered an in-depth session on fundamental econometric techniques and their applications in STATA and R.
• Dr Mohan Rao Balaga (IIT Dharwad) – Provided a comprehensive analysis of time series methodologies, covering ARIMA, VECM, VAR, and ARDL models using macroeconomic and financial datasets.
• Dr Pratap C Mohanty (IIT Roorkee) – Delivered a session on cross-sectional data techniques, encompassing linear and non-linear models, instrumental variable (IV) estimation, and applications utilizing NSSO and large-scale survey data.
• Dr Vineesh Prakash (SRM University-AP) – Conducted an extensive session on panel data models, discussing Fixed Effects (FE), Random Effects (RE), Generalized Method of Moments (GMM), and dynamic panel models using CMIE ProwessIQ data.

The interactive nature of the sessions enabled participants to engage with the resource persons, deliberate on real-world econometric applications, and undertake practical case studies utilizing empirical datasets. The rigorous discussions and hands-on exercises significantly contributed to a deeper understanding of applied econometrics.

This two-day workshop proved an enriching academic initiative, equipping participants with essential econometric skills and strengthening their analytical capabilities in economic and financial data analysis. The positive feedback from attendees underscored the effectiveness of the workshop particularly in integrating theoretical knowledge with hands-on implementation.

The Department of Economics at Easwari School of Liberal Arts organised a panel discussion titled “Decoding the Budget: Insights, Perspectives, and the Big Picture” on February 03, 2025. The event was designed to provide in-depth insights into the Union Budget 2025-26, focusing on fiscal priorities, economic implications, and sectoral impacts. The discussion brought together distinguished experts from academia and policymaking to analyse key announcements and their long-term effects.

The panel discussion featured three esteemed panellists:

– Prof. Vinish Kathuria (Director, Institute of Development Studies, Jaipur & IIT Bombay) – Expertise: Productivity Measurement, Economics of Regulation, and Environmental Economics.

– Prof. D K Nauriyal (Professor, Department of Humanities and Social Sciences, IIT Roorkee) – Expertise: International Trade, Development Economics, and Economics of Intellectual Property.

– Dr Sujit Kumar (Chief Economist, National Bank for Financing Infrastructure and Development – NaBFID) – Expertise: Banking & Finance, Infrastructure, and the Indian Economy.

The experts analysed the macroeconomic factors influencing the budget, such as inflation control, fiscal deficit management, and global economic trends. The panellists discussed the implications of the budget on critical sectors, including infrastructure, banking, environmental sustainability, and trade policies. The discussion highlighted significant policy changes to boost economic growth and social welfare initiatives. The Q&A session allowed participants to seek clarifications and gain deeper insights into budget-related policies and their long-term effects.

Students, faculty, scholars, and individuals interested in economic policy and financial analysis participate in the discussion. Participants also joined online as the event was in the hybrid mode.

The panel discussion on Decoding the Budget 2025-26 successfully gave attendees a clearer understanding of India’s financial and economic direction. The expert insights helped bridge the gap between budgetary announcements and their practical implications. Students, faculty, and policymakers benefited from the interactive discourse, enhancing their knowledge of economic policies and fiscal governance.

This insightful session emphasised the importance of informed economic discussions in shaping perspectives on national financial policies and governance strategies.

In a thought-provoking article titled “Political Manifestos Ignore the Labor Class,” Dr Aurolipsa Das and Dr Srujana Boddu, Assistant Professors from the Department of Economics, shed light on a critical issue that often goes unnoticed during election seasons. Their research delves into the disconnect between political promises and the ground realities faced by the labour class.

They critically examine the shortcomings of political manifestos, highlighting how they often overlook the interests and needs of the labour class. As India heads into another election cycle, Dr Aurolipsa Das and Dr. Srujana’s article serves as a wake-up call for policymakers. To bridge the gap between political promises and ground-level impact, evidence-based policies that prioritise the labor class are essential. It is time for political parties to move beyond rhetoric and take concrete steps toward meaningful progress.

Read the full article by clicking on this link to gain deeper insights into this crucial topic.